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Alnylam Adds on Sales, Looks to Pipeline for Further Growth

Alnylam Pharmaceuticals (NASDAQ: ALNY) continued its launch of Onpattro for transthyretin-mediated amyloidosis with solid quarter-over-quarter growth as the biotech looks to its pipeline to further boost its revenue.Alnylam Pharmaceuticals results: The raw numbers Metric Q2 2019 Q2 2018 Change Revenue $44.7 million $29.9 million 49% Income from operations ($236 million) ($192 million) N/A Earnings per…

(NASDAQ: ALNY)continuedits launch of Onpattro for transthyretin-mediated amyloidosis with solid quarter-over-quarter growth as the biotech looks to its pipeline to further boost its revenue.” data-reactid=”11″ type=”text”>Alnylam Pharmaceuticals(NASDAQ: ALNY)continuedits launch of Onpattro for transthyretin-mediated amyloidosis with solid quarter-over-quarter growth as the biotech looks to its pipeline to further boost its revenue.

Alnylam Pharmaceuticals results: The raw numbers

Metric

Q2 2019

Q2 2018

Change

Revenue

$44.7 million

$29.9 million

49%

Income from operations

($236 million)

($192 million)

N/A

Earnings per share

($2.02)

($1.63)

N/A

Data source: Alnylam Pharmaceuticals.

What happened with Alnylam Pharmaceuticals this quarter?

Sales of Onpattro came in at $38.2 million, up 45% quarter over quarter. Most of the revenue came from the U.S., but the EU contributed $10 million, setting up a solid base for future growth outside the U.S.

There were more than 500 patients paying for Onpattro at the end of the second quarter, and more than half of the prescriptions in the quarter came from new prescribers, which is a good sign for future growth.

Onpattro was recently approved for sale in Japan; Alnylam thinks Japan can be the second-best-selling country behind the U.S. by the end of next year.

While Alnylam is still unprofitable, it’s sitting on a large nest egg of $1.97 billion thanks to $800 million in up-front proceeds from its drug-development deal withRegeneron Pharmaceuticals(NASDAQ: REGN).

Doctor talking to patient in an exam room.

Image source: Getty Images.

What management had to say

admitsis having a negative effect on sales of first-generation Onpattro: “For every patient that goes into Helios-A, they could be a commercial patient of course, we understand that, but we’re investing in that program for the benefit of having a new product offering for patients in the future — in the not-too-distant future that we think will continue to drive growth of the franchise.”” data-reactid=”35